“Pursuant to the settlement of the tender offer, $995,085,000 in principal amount of the Notes were purchased and redeemed by the company on November 27, 2018 and cancelled pursuant to the terms and conditions of the Notes. $504,915,000 in principal amount of the Notes remain outstanding,” mentioned a submitting by Bharti Airtel.
Earlier this month, Bharti Airtel had introduced it is going to pre-pay $1.5 billion debt with its subsidiary Bharti Airtel International (Netherlands), utilizing the proceeds it obtained from six international entities investing in its Africa unit.
Accordingly, Bharti Airtel International (Netherlands) B V commenced money buy of $1.5 billion, 5.125 % Guaranteed Senior Notes which had been due in 2023.
“Bharti Airtel International…today announced the settlement of its previously announced tender offer to purchase for cash (the “Tender Offer”) any and all of its outstanding $1,500,000,000 5.125 percent Guaranteed Senior Notes due 2023,” it mentioned.
It added that the “payment of the consideration plus accrued interest for all Notes validly tendered (and not validly withdrawn) and accepted for purchase by the company has been made on November 27, 2018.”
Bharti Airtel International’s (Netherlands) mother or father Airtel Africa, a UK included subsidiary of Bharti Airtel, just lately made a profitable major fairness issuance of $1.25 billion to 6 main international buyers, together with Warburg Pincus, Temasek, Singtel, SoftBank Group and others.
The firm had mentioned it might utilise the proceeds of the fairness issuance and the money out there to it to scale back its current debt by providing to buy ‘any and all’ of the Notes pursuant to the tender offer.